Solar panels are known to generate energy and thus money in your wallet. But there are many more aspects that make it beneficial to buy and install them. Such as a much higher return than a savings account or deposit, a higher value of the home and even more return when energy prices rise.
Solar panels, they are becoming more and more popular. Since the start of the financial crisis and we have to pay more attention to the little ones, every euro is one. More and more people are turning to saving money: spending such as holidays, postponing the new car, more cycling, etc. More and more people are also deciding to install solar panels on their roof. The reason is clear: the solar panels pay off immediately after installation: the meter will decrease. And that gives a nice feeling: both visually but also what it is all about: in the wallet.
But there are more benefits. It is good to also list these, because they are often unknown to many who are considering the purchase:
- Return higher than savings
- Higher energy prices: even more efficiency
- Purchase costs reduce capital
- Solar panels are only taxed at 6% VAT
- Higher value of the home
- Improved energy label
- Conclusion
Return higher than savings
A truth as a cow. Money in the savings account or putting it in a deposit for a number of years pays off a few percent, that’s all. The efficiency of solar panels roughly pays from 5% to roughly 9%. The investment is still tough, but for those who have the money, it can be a smart decision for the future of the wallet.
Higher energy prices: even more efficiency
It looks like energy prices will only increase in the coming years. The yield of the panels will therefore only increase. After all: the energy consumed is deducted from the energy delivered. If you opt for sufficient panels, you will not have any costs for energy consumed. So you save the ‘purchase’ costs of every Watt of energy. The higher the price per Watt, the more the panels yield.
Purchase costs reduce capital
By deciding to purchase panels you lower your capital. Above a certain threshold of financial assets, you pay tax on them annually: the capital yield tax. With the investment in solar panels you reduce your power. With that you lower your capital gains tax you in your income tax return. This way you pay less or even no more tax, which is advantageous.
Solar panels are only taxed at 6% VAT
As of 1 July 2012, only 6% VAT is charged on the price of a solar panel, instead of 19% (by mid-2012 this would have become 21%). This lowering makes the panels a piece again cheaper in the purchase.
Higher value of the home
A house with solar panels will have a higher value than without. After all, potential buyers will also know the benefits. It can make a buyer who has already considered a purchase, decide to buy the house because he no longer has to make the decision in terms of purchase, it has already been made for him.
Improved energy label
The use of solar panels almost always improves the energy label of a house by one step. For example from a C label to a B label. Sometimes the improvement is even two steps. A better energy label makes the home more attractive again. This can be the decisive for sale, nice at a time when the housing market is not very easy.
Conclusion
Enough advantages to mention. But it is wise not to go overnight when purchasing solar panels. Read information about panels in general. Inquire at various suppliers to the possibilities. It remains a considerable investment, and it must be taken with care, in order to yield as much return as possible.